back Back

Indonesia’s Bank and the UAE’s Central Bank to expand cooperation in several sectors

By Gloria Mathias

December 05, 2023

  • APAC Fintech
  • APAC news
  • Bank Indonesia

Bank Indonesia, Central Bank of UAE, Central Banking, Islamic Finance, Bank Indonesia (BI) and the Central Bank of the United Arab Emirates (CBUAE) have agreed to expand cooperation in several sectors between the two central banks.

The expansion of cooperation is outlined in a Memorandum of Understanding (MOU) signed by the Governor of Bank Indonesia, Mr Perry Warjiyo, and the Governor of CBUAE, Mr Khaled Mohamed Balama on 29 December 2023.

The cooperation between the two central banks is an important part of the deliverables of the meeting between the President of the Republic of Indonesia, Joko Widodo, and the President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan on 1 December 2023, at the sidelines of the COP 28 in Dubai, UAE.

The MOU builds upon a prior agreement between BI and CBUAE signed in 2021, focusing on cooperation in the Payment System and Digital Financial Innovation.

In continuation of this cooperation in 2023, the two central banks are committed to deepening the relationship between the two central banks strengthening the exchange of information and engaging in cooperation across various areas of central banking, consisting of monetary, macro-prudential, financial stability, payment systems, digital financial innovation, and the regulatory and supervisory frameworks within the scope of Anti-Money Laundering and Countering the Financing of Terrorism; as well as areas of Islamic economic and finance. The MOU will be implemented through policy dialogue, technical cooperation, capacity building, and information exchange.

Governor Perry Warjiyo emphasized that this MOU is a significant milestone in strengthening the relationship between BI and CBUAE. The expansion of this cooperation reaffirms the increasingly solid partnership between the two central banks in the future. It also underscores the contribution of the two central banks to countering money laundering and terrorism financing and meeting the Financial Action Task Force recommendations.

Governor Perry also stated that this relationship will lead to mutually beneficial achievements for both central banks and contribute positively to the economy.

Previous Article

December 05, 2023

Allica Bank taps Wise to bolster cross border transfers for UK SMEs

Read More
Next Article

December 05, 2023

Zeller launches Corporate Cards to streamline expense management for SMBs

Read More

IBSi Daily News Analysis


February 23, 2024

APAC Fintech

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Axway to buy most of Sopra Banking Software activities for €330m

Read More

February 22, 2024

Kani Payments taps Pismo for data reconciliation and reporting

Read More

February 22, 2024

Finastra & Unitas to offer treasury solution to banks in South Korea

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023